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Potential Bull-Cross In 5 &.......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Potential Bull-Cross In 5 & 21-DMA's Noted
*RES 4: High Apr 30
*RES 3: 3438.56 High May 16
*RES 2: 3412.98 61.8% retracement 3514.62-3248.54
*RES 1: 3400.66 55-dma
*PRICE: 3386.45 @ Close June 10
*SUP 1: 3354/3355.34 21 & 5-dma
*SUP 2: 3248.54 Low June 3
*SUP 3: 3211.92 50% retracement 2908.70-3514.62
*SUP 4: 3140.16/3124.62 61.8% retracement 2908.70-3514.62/Low Feb 8
Upside risks prevail given potential bull-cross of the 5 & 21-dma's and
continued bull-divergence on daily studies. Focus remains on a break above the
55-dma at 3400.66 and a decisive break above here is seen extending retracement
higher to 3412.98 - 61.8% Fibonacci of 3514.62-3248.54 move.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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